United Kingdom

Centrica hints at Race Bank delay

Discussions with the UK government on Centrica's Race Bank project look set to be protracted, according to an interim management statement issued today.

In the statement, the developer said: "On our Race Bank project we have made a proposal to Government regarding the economic framework, to deliver investment alongside a financial partner. Discussions continue, however they may take some time to resolve."

The up to 580MW project is planned for a site in the Greater Wash, off the Lincolnshire coast. A final investment decision is expected this year and Centrica remains in talks with a financial partner.

Today's statement also referred to Lincs. Centrica said that its 270MW offshore wind farm "is expected to become fully operational during the second half of 2013". Lincs' 75th and final turbine was installed in March and first power was generated the following month.

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